"Bihar Mega Power Limited has been incorporated as wholly owned subsidiary of the Company on July 9, 2015," Power Finance Corporation Ltd informed BSE.
A senior official said that Bihar Mega Power Limited is a special purpose vehicle for implementation of an Ultra Mega Power Project (UMPP) of 4,000 MW.
Earlier this month, the PFC incorporated two subsidiaries--Deoghar Infra Ltd and Bihar Infrapower Ltd -- for setting up two UMPPs of 4,000 MW each in Jharkhand and Bihar.
"..Companies have been incorporated as wholly owned subsidiaries of PFC...Deoghar Infra Limited and Bihar Infrapower Limited on June 30, 2015," PFC had said in a BSE filing. These two companies are also special purpose vehicles to implement UMPPs.